In order to fund business expansion, ICICI Bank is planning to raise funds through bonds in the next three months. The board of the bank will meet on December 9 to take a call on fund raising. The bank proposes fund raising in single or multiple tranches in any currency through public or private placement by way of issuances of debt instruments for remaining period of 2016-17.
ICICI Bank is India’s largest private sector bank with consolidated total assets of $138.67 billion as of March 31, 2016. Its subsidiaries include India’s leading private sector insurance companies, securities brokerage firm and mutual fund. The bank’s presence currently spans 17 countries, including India.
